Here is this week’s industry news & analysis…Â
News Digest
Coterra In $4 Billion Deal For Franklin Mountain & Avant Assets
Coterra today announced it has entered into two separate definitive agreements to acquire certain assets of Franklin Mountain Energy and Avant Natural Resources for aggregate consideration of $3.95 billion, consisting of $2.95 billion of cash and $1.0 billion of Coterra common stock, creating an expanded core area in New Mexico.
Liberty Energy’s Chris Wright is Harold Hamm's Top Choice for Energy Secretary
Liberty Energy co-founder, chairman and CEO Chris Wright is wildcatter Harold Hamm’s top choice for U.S. energy secretary in the new Trump White House.
Permian Resources Talks Water Recycling
They are up to 50% recycled water on completions and management said: "I think there's room to continue to increase it. If we could get to two-thirds of our water or maybe even three-fourths, I think that would probably be where it tops out. At some – there's always going to be about a quarter of your fracs or a quarter of your water that you can't recycle. So, maybe that's a good goal over the next two years that we can push it up to two-thirds to three-fourths.
And then the majority of the water recycling we do is kind of contracted through third-party midstream."
PA EHB Blocks Work on Wastewater Injection Well in McKean County
Special court order stops construction on a previously-approved project.
LandBridge sees FY25 adjusted EBITDA $140M-$160M
“For the full-year 2025, the Company expects Adjusted EBITDA to be between $140 million and $160 million, driven by: Incremental contribution of our recent acquisitions; Initial solar facility contributions to surface use revenues; Growth of our surface use royalties through higher produced water volumes on our surface; Updates to resources sales and royalties based on current timing and volume expectations; and Updates to anticipated commodity pricing based on current regional pricing dynamics.”
SRBC Warns PA Shale Drillers to Plan Alt. Water Sources re Drought
Susquehanna River Basin Commission (SRBC) sent a heads-up to shale drillers and other large water users in the basin to warn them to be on the lookout for a Plan B to source water. Northeastern Pennsylvania (and other states in the northeast) are experiencing drought or near-drought conditions.
Volt Lithium Announces Upsized $5.4 Million Marketed Public Offering of Units
The upsized offering (the “Offering”), on a “best-efforts” marketed basis, will be for up to 17,500,000 units of the Company at a price of $0.31 per Unit for aggregate gross proceeds to the Company of up to $5,400,000.
Exxon to sell older Permian assets to Hilcorp in $1 billion deal, sources say
Top U.S. oil producer Exxon Mobil Corp (XOM.N), opens new tab has agreed to sell conventional oil drilling assets in the Permian Basin of Texas and New Mexico to privately-owned Hilcorp Energy for around $1 billion, four sources familiar with the matter told Reuters.
Lee Zeldin, Trump’s EPA Pick, Brings a Moderate Face to a Trump’s Game Plan
Despite his past pro-environment votes—especially to protect Long Island’s coast—the former New York congressman is expected to be on board with Trump’s climate policy rollbacks. Article by an anti-energy website.
Case Study: Revolutionizing Water Management in Trimulfrac Operations in the Permian Basin
Select Water presents a recent case study.
CONFERENCE WRAP: Attendees Share Their Experience
See what Kullen Crosby had to say about the event here...
CONFERENCE WRAP: Thank You Equinox!
Kimberly Gavran posts a quick note and photos from her time at the event.
Fueled by Another Acquisition, Energy Transfer Continues to Deliver Record-Setting Results
The midstream giant recently closed its nearly $3.1 billion purchase of WTG Midstream, which followed its $7.1 billion merger with fellow master limited partnership (MLP) Crestwood Equity Partners last November. On top of that, the company has continued to invest heavily in organically expanding its operations.
Permian Basin boosts water recycling to tackle drought
"We are very encouraged," said Amanda Brock, chief executive officer and president of Aris Water Solutions. "We continue to see the entire industry embrace efforts to reuse produced water."
Permian Resources’ Operational Excellence: Drilling and Completion Efficiencies, Recycled Water Initiatives, and Simul-Frac Success
Permian Resources Corporation, a key player in the Permian Basin, delivered an impressive Q3 2024 update, showcasing their continued commitment to operational efficiency and innovation.
SMC Global Acquires International Chemicals LLC to Expand Offerings in Oil & Gas and Produced Water Treatment Markets
SMC Global is pleased to announce the acquisition of International Chemicals LLC ("ICC"), merging SMC's Oilfield business into ICC's operations.
Subscribe
Looking to stay connected in the rapidly evolving oilfield water management business? Look no further than the Oilfield Water Connection’s Weekly News Digest.
Subscribe to get our carefully curated summary of relevant water news and analysis delivered to your inbox each Wednesday morning
Share Your News
Send us your press releases and any other news articles which you believe would be of interest to our readers. Email submissions to hello@oilfieldwater.com
Advertising
Do you provide oilfield water technology, or service? Advertise in the Oilfield Water Weekly.
LEARN MORE
